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| SUSTAINABLE | AFFORDABLE LUXURY
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Mullins Grove - Page 20
BARBADOS
www.barbadospropertynews.com February - March 2015 Issue 97
Endorsed by theBarbados Estate Agents andValuers Association
Inc.
Saint Peters Bay - Page 9
Claridges - Page 31
Serenity Hill - Page 41
PROPERTYNEWS
FREE& ONLINE
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Welcome to our first edition of 2015 and our 97th spread over 16
years. It isamazing to look back at the first edition and see how
far real estate in Barbadoshas come in those 16 years. Today we
have a magnificent range of property andan industry worthy of its
name with an abundance of product, services andmaterials to meet
virtually every property need. Many people believe the real estate
decline has finally bottomed out and hasstarted the long haul
upwards. Certainly early reports suggest an increase inenquiries
over the winter season and some agents have reported higher
annualsales in 2014 than the previous year. Thesepositive signs
combine with a more realisticallypriced market to augur well for a
better 2015.Developments come in all shapes and sizes andBarbados
has been blessed with some visionaryand enterprising projects over
the past two
decades. However, the magnificent Port Ferdinand marina
developmentin St. Peter is something very special and promises to
be one of the best ofits type in the world. It will be officially
opened in a few weeks and we wishthe developers every success and
welcome the new homeowners to ourwonderful little island. Most of
the owners will be from overseas and thiswill help boost the local
economy now and in the future. And just tohighlight the knock-on
effects of overseas investment and commitment toBarbados we must
compliment Derrick Smith, his fellow Trustees and theowners of the
Sandy Lane Resort for raising another US$4 million at theirAnnual
Golf Tournament and Gala Dinner in January. The tremendouswork the
Sandy Lane Charitable Childrens Trust does to helpdisadvantaged
children in Barbados is phenomenal and shows how muchlove our
overseas visitors, second homeowners and residents have for
theisland and its people.Pamela Hiles - Editor
Editors CommentsPublisher Hiltop Publications Ltd,11 Cottage
Ridge, St George, Barbados,BB19071Tel (246) 228-9122, Fax (246)
228-0243Email:
sportingb@caribsurf.comwww.sportingbarbados.comwww.barbadospropertynews.comwww.caribbeanpropertymag.comwww.caribbeanmortgageservices.com
Editor/Advertising Pamela L Hiles
Design and Art Direction 809
Distribution Hiltop Publications Ltd,Brians Print Brokerage
Printing Coles Printery
The Material and editorial contained in thispublication have
been deemed accurate at thetime of going to print. The views
expressed aseditorial are those of the Editor unless
statedotherwise. No part of this publication may bereproduced
without the consent of thepermission of Hiltop Publications
Ltd.
On the Cover: Saint Peters Bay
Pamela Hiles, Editor
If you would like to advertise in Barbados PropertyNews call Pam
at 228-9122 or 232-0692
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STYLISH | SUSTAINABLE | AFFORDABLE LUXURY
FROM $249,000 TO $429,000
Mullins Grove is The Future of Barbados home ownership.
12 Luxury 1-3 bedroom apartments offered at pre-construction
prices
by a proven developer on the Platinum West Coast of
Barbados.
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AFFORDABLE LUXURY AT ITS FINEST.
1 2 LUXURY A PA RT ME NTS M UL L I N S ST. P E T E R BA R BA
DOS
Only 200 yards from the Iconic Mullins Beach and Indulgence Spa
| Reputable and Proven Developer
Pre-Construction Prices | 12 Luxury Apartments | 1, 2 and 3
Bedroom Units Available
Quality Finishes Throughout | Large Swimming Pool, Deck and
Organic Garden
Attractive Rental Returns | Established Rental Management in
Place
US$ 5,000 Reservation Deposit | Completion Mid 2016
chestertonbarbados.com | [email protected] | +1 (246)
432 4663
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The Port St. Charles Yacht Club boasts a full service bar and
restaurantoffering a wide range of international cuisine prepared
by our world class chef.We offer lunch, dinner and bar service in
an open air setting with friendly serviceand a panoramic view along
the West Coast. Deck loungers are provided forsunning and a
staircase into the sea compliments the pool for swimming.
Welcome aboard!Open for Lunch 7 days a week 12pm-4pm Dinner 5
nights a week Tuesday - Saturday 6:30-9:30pmBar Service Tuesday -
Saturday 10am-10pm; Sunday and Monday 10am-6pm
For reservations call: 419-1000 ext 2284Opening times are
subject to change in the summer months from April-November
Port St. Charles Yacht Club, Heywoods, St. PeterThe Yacht Club
is available for weddings, cocktail parties and special events
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25
Settlers Barbados Feature
They say in the real estate world location, location,locationand
this certainly rings true for Settlers Barbados. Aminute stroll and
you are in the bustling little town of Holetown,which has so much
to offer starting with the Limegrove LifestyleCenter, many
restaurants, cafs, banks etc.The OHara family originally developed
this beautiful spot in
the 1960s, along with their famous hotels The Coral Reef Cluband
The Sandpiper Hotel which is adjacent to Settlers Barbados.They had
a common vision as a family about what they wouldlike to see in
this prime location. Hence the creation, over thepast 2 years, of
spectacular plans for complete redevelopment,with stunning new,
modern beach villas, designed by architectsGillespie and
SteeleSettlers Barbados will be a collection of 12 four & five
bedroom
villas of the highest quality, around 5,000 square feet,
designed
with great attention to detail and upscale fittings. Prices
start atUS$5,700,000Having The Sandpiper and Coral Reef Club either
side of
Settlers, the OHara & Capaldi families are committed
tomaintaining the villas to the highest standard, aiming tomaintain
the same quality and as those owners wishing to renttheir villas
will find a very consistent style within this luxury gatedbeach
development, allowing them to market the property in aunique
way.The villas will also benefit from their association with
Coral
Reef Club and The Sandpiper, with special access to The Spa
luxury car transfers and special offers, signing privileges at
thehotels and concierge facilities. This is an exciting,
uniquedevelopment that will add another level of luxury to beach
livingon the Platinum Coast.
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2014 Wolseley. All rights reserved.
Browse our spacious showroom at Canewood Industrial Estate for
quality appliances by SMEG, BOSCH and U-LINE. See the latest
sanitary ware and plumbing products from Kohler, Duravit, Hansgrohe
and
Grohe. We also feature architectural hardware by Rocky Mountain
and Ashley Norton and lighting by Progress, Seagull and Feiss. Come
in today to see all this and more!
#6 Canewood Industrial EstateSt. Michael246-627-0580
[email protected]
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48
News fills and empties your bucketwhether you like it or not.
Somemarried couples might feel themood of their partner first thing
inthe morning is much moreimportant than anything else in theworld,
but in reality it is a passingwhim and probably forgotten a
fewhours later as more important
issues determine the mood of the day.Mood and confidence walk
hand in hand in life and they dont
just affect personal attitudes, they embrace business and have
farreaching vibes across the world thanks to Mr. Internet. Local
newshits its audience largely through the morning newspapers,
radioand television, but international news is relayed over the
globethrough websites. Never has breaking news been so instant as
inthe modern world where good and bad news can be relayed
tomillions of people in seconds. Unfortunately in the media bad
news is bigger than good news
so lost aircraft, terrorist killings, disease, financial woes
andviolence tend to push the good stories into the background.
Badnews also lingers in the mind for long periods and it affects
theway we live our lives and do our business. It takes a
strongpersonality to block out bad news and in the case of
businesspeople it has to be ring-fenced to ensure balance is in
place whenmaking important decisions. It also places a huge
responsibilityon high-powered people and institutions that have to
deliver badnews as the consequences can be far reaching. For
example, why should Barbados still be suffering from the
knock-on effects of global recession seven years down the
linewhen the demise was caused by big financial institutions in
largedeveloped countries? Our island and its people had nothing to
dowith the deception and fraud at the highest level of big
corporatebusiness yet the negativity and damage it caused has
erodedinvestor confidence in our real estate product and
virtuallydestroyed the growth and success hard-earned pre-2008.
Badnews in Europe, North America and the Far East inevitably
createsnegative vibes across the world and deflates customer
confidencein areas far removed from the troubled sectors. At local
level the
news that Sagicor, one of the cornerstones of Barbados
businessfor decades, is to re-locate its Head Office because of our
currenteconomical and financial status is a kick in the teeth to
manyBarbadians even though the company now has a higherTrinidadian
shareholding than Barbadian. The news was a badblow for investor
confidence and public morale. As a small island fighting tough
economic challenges we need
customer confidence more than ever. We depend heavily on
thetourism and construction industries and overseas investment
inour real estate. We need the Barbados bucket filled with good
newsabout the quality of our products, services, lifestyle,
government,people, education and environment. We have so much to
offerand as the tourism and real estate sectors continue to claw
theirway back to more prosperous times we dont need our
bucketemptied by negative news and sensationalism from
politicians,news reporters, outside institutions and doomsayers
with limitedknowledge. Yes, the events need to be reported, but
with balanceand clarity so that confidence in the country is not
destroyed andour bucket remains half full not half empty.We have to
accept politicians on different sides of the political
divide lambast each other at every opportunity, but does it
needto be played out in the media every day? Do we need to see
somuch negativity and dismay on the front pages when there aregood
stories on the inside pages that would make more
worthyheadlines?And yes, the property market is soft and there are
less potentialpurchasers around these days than pre-2008, but
agents arereporting an increase in enquiries in 2015 and more sales
than lastyear. Prices are more realistic than they were several
years ago andmortgages are available. Yes, they are more difficult
to obtain andlending terms are tighter, but interest rates are
lower and banksare liquid with funds they must lend. Theres plenty
of good news out there that can be promoted.
This is a buyers market so lets capitalize on it.Dont let the
doomsayers control your mood or confidence-fill
your bucket with the good things that are happening every day
inBarbados. Things may be more challenging these days, but in
thewords of American statesman Joe Kennedy when the going
getstough, the tough get going.
Who fills and emptiesyour bucket these days?
Finance
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Call or visit any of our RBC Royal Bank branches today!
Go Green for less withRBC Green Energy Financing!
RBC makes a Green Financing loan for your home more affordable
with savings of up to $900 per year on your loan payment.
Get:
> Low fixed interest rate> Up to 6 years to repay> 100%
Financing> Home Equity loans also available (up to 30 years to
repay)> Plus, tax savings up to $10,000 per year for 5
years**
** Terms & conditions of the tax savings are based on the
Income Tax Act, Cap. 73* Based on a fully unsecured loan of $35,000
over 6 years at RBC versus 5 and 6 years at other competitor
banks
Subject to normal lending criteria. Special conditions apply The
cost of borrowing will be made available upon application
/ Trademark(s) of Royal Bank of Canada. Used under licence.
Main Branch467-4000
Chelston Park431-6600
Sunset Crest419-8510
Speightstown 419-8500
Hastings431-6650
Six Roads416-8544
University Drive417-1700
Private Banking Centre431-6500
OTHER BANKSShort you out on cash with payments
of up to $677 per month*
RBC ROYAL BANKPowers you up on savings, with
payments of approx. $600 per month*
of up to $677 per month*Short you out on cash with payments
GoG
of up to $677 per month*Short you out on cash with payments
OTHER BANKS
selroffoneer
payments of approx. $600 per month*Short you out on cash with
payments
htiwss
payments of approx. $600 per month*Powers you up on savings,
with
RBC ROYAL BANK
payments of approx. $600 per month*Powers you up on savings,
with
RBC ROYAL BANK
erreGCBRGoG
gyygrrgenEneselroffoneer
!gninanciFhtiwss
Call or visit any of our RBC Royal Bank branches today!
467-4000Main Branch
Call or visit any of our RBC Royal Bank branches today!
419-8510Sunset Crest
431-6600Chelston Park
Call or visit any of our RBC Royal Bank branches today!
416-8544Six Roads
431-6650Hastings
419-8500Speightstown
431-6500Private Banking Centre
417-1700University Drive
416-8544Six Roads
431-6500Private Banking Centre
/ Trademark(s) of Royal Bank of Canada. Used under licence.
Subject to normal lending criteria. Special conditions apply
* Based on a fully unsecured loan of $35,000 over 6 years at RBC
versus 5 and 6 years at other competitor banks** Terms &
conditions of the tax savings are based on the Income Tax Act, Cap.
73
/ Trademark(s) of Royal Bank of Canada. Used under licence.
Subject to normal lending criteria. Special conditions apply
* Based on a fully unsecured loan of $35,000 over 6 years at RBC
versus 5 and 6 years at other competitor banks** Terms &
conditions of the tax savings are based on the Income Tax Act, Cap.
73
* Based on a fully unsecured loan of $35,000 over 6 years at RBC
versus 5 and 6 years at other competitor banks** Terms &
conditions of the tax savings are based on the Income Tax Act, Cap.
73
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Barbados Office I Orena I St. Lawrence Main Road I Christ Church
I Barbados I T 1 246 428 8091 I E [email protected] I
www.bcqs.com
B A H A M A S B A R B A D O S B R A Z I L B V I C A Y M A N I S
L A N D S G U Y A N A J A M A I C A S T L U C I A T R I N I D A D
& T O B A G O T U R K S & C A I C O S
PROPERTY AND DEVELOPMENT CONSULTANTSCHARTERED QUANTITY
SURVEYORSPROJECT AND CONSTRUCTION MANAGEMENTREAL ESTATE VALUERS AND
APPRAISERS
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54
BEAVA NewsReal Estate News
process of meeting over the next couple of weeks to plan the
wayforward for the coming year.She adds that the teams priorities
are: to pursue legislation
for both real estate agents and valuers, enhance BEAVAs MLSsite
to include more data, thereby encouraging all valuers andfinancial
institutions on the island to become members; tocontinue with
ongoing education seminars for the membership;to host the
associations biennial Real Estate Expo which isslated for later
this year and to sensitise the public to theimportance of using a
BEAVA agent.The President wishes to reiterate to property owners
the
importance of utilising the services of a BEAVA member
whenlisting a property so as to make sure that you are dealing
witha reliable, knowledgeable agent who follows our by-laws andcode
of ethics. This will also give you maximum exposure foryour
property as there is a network of over 150 qualified
agents.Continue to look on this page where members will be
keptinformed of all BEAVA initiatives, events and general
updates.
New BEAVA BoardReady For The Challenge!It is always exciting to
welcome new members into the fold
and Suzanne Davis, re-elected President of Barbados EstateAgents
and Valuers Association Inc. (BEAVA) did just that whenshe met with
board members this past January, their firstmeeting of the year.She
ushered in the newly elected members, who each bring
fresh ideas to the table along with their own personal
approachto the management of the industrys governing body.
Theirservice will provide tremendous benefits to the organisation
asa whole.The boards committee of management, who will serve
alongside Mrs. Davis includes:
George Ramsay - Vice PresidentAlkins Kirton - SecretarySonia
Field - TreasurerDavid Coombes - Committee memberPooka Yhap -
Committee MemberRae Stollmeyer - Committee MemberPaul Alleyne -
Committee MemberCurtis Pounder - Committee Member
Jeanine Jones - Administrative Secretary (non-board
member)Desiree Phillip Marketing (non-board member)
Several sub-committees have already been formed; which willbe
chaired by members of the board and include other interestedmembers
of the association.These sub-committees, Mrs. Davis explains, are
in the
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56
Villa Bonita is a shining example of the very best in
luxurybeachfront property available on Barbados Platinum
Coast.Sitting on an elevated position in Prospect Bay, St. James,
thisnewly constructed six bedroom, five and a half bathroomluxury
villa is simply stunning. Offering over 9,200 square feetof living
space, Villa Bonita is truly elegant with a sleek,luxurious
ambiance highlighted by the highest quality Italianfixtures and
fittings and gorgeous white marble tilesthroughout. The proximity
to the water is unique and very fewwest coast homes can boast such
fantastic vistas from almostevery room.Of the six magnificent
bedrooms, four feature en-suite
bathrooms each custom designed by the Italian companyMilldue
with fittings by Treemme Siena Italy, including themaster bedroom
which also boasts its own private balcony andhis-and-hers walk in
closets. The two cottage bedrooms onthe ground floor share a lovely
bathroom, also high specMilldue with Treemme Siena Italy
fittings.
Villa Bonita Real Estate News
The fabulous TM Italia kitchen overlooks the privatecourtyard
with it's salt water pool a chefs dream! Both thedining room and
living room are the definition of luxury andoffer uninterrupted sea
views and the calming sound of thewaves gently crashing on the
shore.The living area leads on to the spacious patio which is
ideal
for entertaining or simply relaxing and enjoying
beautifulsunsets. A private staircase leads from the patio directly
to thewhite sand beach and calm blue waters of the Caribbean
Sea.Also accessed by this private staircase is the beach level of
thisstunning villa, comprising 1,700 square feet and boasting
aprivate cinema and gym room, itself with fabulous view.In addition
to an alarm system, security shutters at key
access points offer an added element of security and peace
ofmind.Villa Bonita is the definition of west coast luxury and a
home
that any family will truly love and enjoy.US$13,750,000 - Call
Alleyne Real Estate 432-1159
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(246) 622-1227
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Gibbons Ind. Pk., Gibbons, Christ Church, Barbados BB17101
Handrails, balustrades,
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abrasive blasting & coating services
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Gibbons Ind. Pk. Gibbons, Christ Church, BB17101, Barbados, West
Indies.
(246) 622-1227
CaribbeanPowder Coating
hurricane shuttersaluminum sunshades
powder coated finishesretractable insect screens
interior & exterior screen systems
tarpaulinsshade sailsmembrane roofingroller shades & blinds
fixed & retractable awnings
RESIDENTIAL * COMMERCIAL * INDUSTRIAL
SHADE SYSTEMS ~ ALUMINUM FABRICATION ~ METAL FINISHING
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(246) 622-1227
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(246) 622-1227
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Blue Sky Luxury, the CaribbeansHoliday Home Experts,
announcesthe launch of Blue, the Caribbeansfirst villa rentals
loyalty programme,this month.This innovative, destination-wide
programme is complimentary forthe firms repeat guests
andproperty owners with nocomplicated points system to
navigate. Members will receive enhanced Concierge Can serviceand
a 5% discount on future villa bookings in the Blue Sky
Luxurydestinations of Antigua, Dominica, Jamaica, St. Barts,
St.Martin/St. Maarten and St. Lucia.We created the Blue Loyalty
programme to thank both our villarepeat guests and owners with
lifestyle rewards for the experiencesand services that we know they
patronize and value, remarkedKathy-Dawn Burke, Leader - Holiday
Home Rentals at Blue SkyLuxury.Blue Card rewards in Barbados, Blue
Sky Luxurys flagship
destination, include savings on private in-villa shopping,
roundsof golf, surf lessons, deep sea fishing charters, privileged
seatingand savings at desirable restaurants and more. Additional
benefitsroll out across Blue Sky Luxurys six other Caribbean
destinationsin the first quarter of 2015.Blue Sky Luxury villas are
an affordable luxury for families and
groups and deliver private, spacious accommodation with
staffthat sees to every detail. Their Concierge Can team
providespersonalized guest services inclusive of arranging
activities andadvising the villa chef on menu favorites. All Blue
Sky LuxuryHoliday Homes offer: either a plunge pool, a swimming
pool,beachfront position or a combination, with air conditioning
andfans in all bedrooms and free Wi-Fi and cable television.
Blue Sky Luxury LaunchesThe Caribbeans First Villarentals
Loyalty Programme
Real Estate News
For more information contact Blue Sky Luxury at1-246-622-4466,
email [email protected] and online atwww.blueskyluxury.com,
@BlueSkyLuxury andfacebook.com/BlueSkyLuxury.
About Blue Sky LuxuryBlue Sky Luxurys portfolio of over 250
Caribbean premier villa
properties includes over 100 of the finest holiday homes
inBarbados and another 150 best-in-class vacation homes inAntigua,
Dominica, Jamaica, St. Barts, St. Lucia and St. Martin/St.Maarten,
ranging from luxurious oceanfront villas to charmingand relaxed
beachfront apartments. The Blue Sky LuxuryConcierge Can experts
provide personalized service andcustomized vacations, guaranteeing
the ultimate luxury vacationexperience.
60
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FINAL PHASE ONLY FIVE UNITS LEFTPRICES STARTING AT
BDS$425,000
VISIT
OUR NEW
WEBSITE FOR
MORE DETAILS AND
A COPY OF OUR
ELECTRONIC BROCHURE
www.carters-grove.com
Land/Construction detached single storey homes 1,200 sq ft
three-bedroom design Small community of 15 units in quiet
cul-de-sac Plot sizes approx 4,000-4,500 sq ft. First phase of 10
units sold and six completed Located just off Enterprise Road a few
minutes drive from Oistins Up to 100% mortgage facilities
available
FOR MORE [email protected]
Tel- 230 9215Or visit website- www.carters-grove.com
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63
Getting on the property ladder -Carters Grove ticks all the
right boxes
Feature
It is tough for first-timebuyers to get on the propertyladder,
but in many cases it isa question of prioritizing yourambitions and
setting plansin place to achieve them.Financial planning in
yourFifties is just as important asin your Twenties so buyingreal
estate is not governed by
age. That said, many tenants look back over the years at the
moneythey paid in rent and lament the missed opportunity. Quite
oftenthe cost to repay a mortgage would have been less than
monthlyrent. The big difference is that after 25 years you own your
home,not fill the pockets of your landlord. Buying your home is not
justbuying a lifestyle it is an investment that will become a
valuableasset once you have cleared your mortgage. Or if you decide
tomove to a bigger home it will be collateral that you can sell
andhave a bigger deposit to move up the market.
The Barbados Property Market Pre-2008 the Barbados Property
Market reflected the generalglobal scene with property prices
steadily increasing. But theneconomic meltdown and six years of
softening values changed thereal estate landscape. However,
throughout the past decadeproperties in the lower and middle market
have held their values,largely because there was not enough supply
to meet the demandfrom buyers wanting to get on the property
ladder. Not much haschanged over the past few years and although a
few developmentsappear to tick some of the boxes, slow sales would
suggest theirproduct does not meet the all the requirements of the
discerningbuyer in 2015.
Carters GroveCarters Grove will appeal to a variety of people
including first-time buyers, people who love the
Enterprise/Atlantic Shores areaand returning nationals looking to
buy a piece of the rock. Thepurchase price includes buying the land
and construction, both ofwhich must be done at the same time.The
1st Phase of Carters Grove involved 10 properties and by theend of
February all the properties will be completed and occupied.As with
many new developments the early purchasers haveenjoyed significant
appreciation on their investment. The 2nd andfinal Phase has just
been released. It offers five new properties inthe $425-$445,000
price range. These three-bedroom detached1,200 sq ft properties are
finished to a high quality. The purchaserhas the option of changing
the internal design to meet their ownrequirements prior to the
start of building and extras can beadded. The builder can also
offer a two-bedroom option at a lowerprice and purchasers can get
up to 100% mortgage fundingsubject to qualification. This could
include returning nationals. When the five properties are sold and
constructed the site willbe tastefully landscaped and
closed.Looking at other properties in this price range it is clear
thatCarters Grove ticks all the right boxes for home seekers and
inaddition to providing excellent value for money there is scope
forcapital appreciation. Located within two minutes drive
frombeautiful Miami Beach and Atlantic Shores and four minutes
fromOistins fishing village, Carters Grove is also within easy
access toall South Coast amenities and the Grantley Adams
InternationalAirport. It offers a wonderful opportunity to buy your
own homeand enjoy the rewards of a healthy lifestyle.For more
information and a brochure visit the website
www.carrters-grove.com or call 230 9215.